dana
New Member
Posts: 5 
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Post by dana on May 18, 2023 21:13:22 GMT -5
Since this a contract year, has anyone heard anything about possible "Buy out" for those that will retire?
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Post by nra4life on May 20, 2023 8:36:09 GMT -5
Stellantis has buyout offers on the table right now for hourly employees. $50k, I would imagine that would be the number to watch.
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Post by Ex-metalman on May 30, 2023 13:59:03 GMT -5
Write my 50k check give me my signing bonus and BYE BYE
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Post by beenaround on Jun 1, 2023 10:10:27 GMT -5
50k? That's only 28k after taxes! They can afford much more!
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Post by Ex-metalman on Jun 2, 2023 20:28:18 GMT -5
I’ll take what I can get.Gone 01-01-24
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Post by beenaround on Jun 3, 2023 9:36:48 GMT -5
I’ll take what I can get.Gone 01-01-24 Congrats on that! I might be wrong on this but I thought you have to be in plant for at least one week in the new year to receive 100% for profit sharing for previous year. That is since their fiscal year doesn't end until the first of the New Year. Otherwise it gets prorated. Might not add up to a whole lot and I may be wrong. Best wishes to you regardless. I'm planning for 07-01-2024 exit myself. |
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Post by tagrelief on Jun 3, 2023 21:42:47 GMT -5
Profit sharing is figured on your hours worked during the year. Retiring on 1/1/24 would mean you’d receive credit for any vacation or personal time still unused. Last year it was $4.20 per eligible hour. I’ve got another contract in me. Too young to go even with 30 in next week. It’ll be good to use this contract as a “dry run” so to speak in regards to planning my retirement. Hope you guys get out and enjoy it for a good long time. 🍻
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Post by beenaround on Jun 4, 2023 7:35:18 GMT -5
Profit sharing is figured on your hours worked during the year. Retiring on 1/1/24 would mean you’d receive credit for any vacation or personal time still unused. Last year it was $4.20 per eligible hour. I’ve got another contract in me. Too young to go even with 30 in next week. It’ll be good to use this contract as a “dry run” so to speak in regards to planning my retirement. Hope you guys get out and enjoy it for a good long time. 🍻 I know how profit sharing is figured. I'm saying that Ford's fiscal year does not end on 12-31. So the amount you are eligible for pertains to the entire fiscal year while employed in that fiscal year. Ford is all about getting every nickel they can. Again I may be wrong but that is my understanding. |
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Post by nra4life on Jun 5, 2023 4:37:13 GMT -5
I’ll take what I can get.Gone 01-01-24 FYI…if you accept a buyout Ford will robo call you and tell you when your last day is, that’s the terms of any buyout. |
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Post by Ex-metalman on Jun 5, 2023 13:54:17 GMT -5
Ok.I’ll work 4 days😂😂😂😂.I don’t think it matters.Just like VACATION time .Mine is DEC.If I retire in October I will STILL GET prorated Vacation hours.As far as Robo for buyout .I won’t be betting a buyout.I’ll be retiring with a LUMP sum payment.Thus you have to go sign papers and get date..
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Post by tagrelief on Jun 5, 2023 20:16:40 GMT -5
Profit sharing is figured on your hours worked during the year. Retiring on 1/1/24 would mean you’d receive credit for any vacation or personal time still unused. Last year it was $4.20 per eligible hour. I’ve got another contract in me. Too young to go even with 30 in next week. It’ll be good to use this contract as a “dry run” so to speak in regards to planning my retirement. Hope you guys get out and enjoy it for a good long time. 🍻 I know how profit sharing is figured. I'm saying that Ford's fiscal year does not end on 12-31. So the amount you are eligible for pertains to the entire fiscal year while employed in that fiscal year. Ford is all about getting every nickel they can. Again I may be wrong but that is my understanding. The fiscal year is actually 1/1-12/31. I wouldn’t stick around any longer just for a little extra profit sharing though personally. |
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Post by Ex-metalman on Jun 6, 2023 5:11:07 GMT -5
Let me clear this up😂I’ll leave today for 50k .They can save their Signing Bonus !
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